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Mercantilism taught that trade was a zero-sum game, with one country's gain equivalent to a loss sustained by the trading partner. Some have argued that mercantilist policies had a positive impact on Britain, helping to transform the nation into the world's dominant trading power and a global hegemon . [ 33 ]
Oriental Despotism: A Comparative Study of Total Power is a book of political theory and comparative history by Karl August Wittfogel (1896–1988) published by Yale University Press in 1957. The book offers an explanation for the despotic governments in "Oriental" societies, where control of water was necessary for irrigation and flood-control.
Chydenius, who was a Finnish priest and member of parliament, published a book called The National Gain in 1765, in which he proposes ideas of freedom of trade and industry and explores the relationship between economy and society and lays out the principles of liberalism, all of this eleven years before Adam Smith published a similar and more ...
This is a timeline of the history of international trade which chronicles notable events that have affected the trade between various countries.. In the era before the rise of the nation state, the term 'international' trade cannot be literally applied, but simply means trade over long distances; the sort of movement in goods which would represent international trade in the modern world.
The Gravity model of trade presents a more empirical analysis of trading patterns. The gravity model, in its basic form, predicts trade based on the distance between countries and the interaction of the countries' economic sizes. The model mimics the Newtonian law of gravity which also considers distance and physical size between two objects ...
In 1776, the Continental Congress had drafted the Model Treaty, which served as a guide for U.S. foreign policy during the 1780s. The treaty sought to abolish trade barriers such as tariffs, while avoiding political or military entanglements. [9]
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Continentalism refers to the agreements or policies that favor the regionalization and/or cooperation between states within a continent.The term is used more often in the European and North American contexts, but the concept has been applied to other continents including Africa, Asia and South America.